PPL Corporation (PPL) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PPL Corporation (NYSE:PPL) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $44.00 price objective on the utilities provider’s stock.
According to Zacks, “Shares of PPL Corp. have gained higher than the industry in the last 12 months. PPL Corp. is poised to gain from its capital investment plan, which primarily focuses on infrastructure construction projects for generation, transmission and distribution. It has reestablished its hedge levels to shield itself from any near-term decline in the GBP. PPL Corp’s earnings are expected to improve annually by 5-6% in 2017-2020 time period, thanks to the contribution from its domestic and U.K. operations. However, environmental regulatory risks pose challenges to PPL Corp.’s growth. The company’s operations are also subject to service disruptions in the form of breakdown of equipment. Unfavorable weather in Kentucky is also adversely impacting earnings.”
PPL has been the topic of a number of other reports. ValuEngine upgraded PPL Corporation from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub cut PPL Corporation from a sell rating to a strong sell rating in a report on Monday, July 31st. Jefferies Group LLC upgraded PPL Corporation from a hold rating to a buy rating and upped their price objective for the company from $39.50 to $42.00 in a report on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) upgraded PPL Corporation from a sell rating to a neutral rating and upped their price objective for the company from $35.00 to $38.00 in a report on Monday, June 26th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PPL Corporation has a consensus rating of Hold and a consensus target price of $38.94.
Shares of PPL Corporation (PPL) opened at 39.16 on Tuesday. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20. The stock has a 50 day moving average price of $38.85 and a 200 day moving average price of $38.27. The company has a market capitalization of $26.86 billion, a price-to-earnings ratio of 16.39 and a beta of 0.49.
PPL Corporation (NYSE:PPL) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, equities analysts anticipate that PPL Corporation will post $2.16 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, September 7th. PPL Corporation’s dividend payout ratio (DPR) is 66.11%.
In other PPL Corporation news, insider Gregory N. Dudkin sold 8,228 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total transaction of $325,417.40. Following the transaction, the insider now directly owns 39,693 shares in the company, valued at $1,569,858.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joanne H. Raphael sold 35,651 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $39.50, for a total value of $1,408,214.50. Following the transaction, the senior vice president now owns 52,450 shares in the company, valued at $2,071,775. The disclosure for this sale can be found here. Insiders have sold 55,391 shares of company stock worth $2,181,282 over the last 90 days. 0.40% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in PPL Corporation by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,915,860 shares of the utilities provider’s stock worth $1,828,963,000 after purchasing an additional 1,416,622 shares in the last quarter. BlackRock Inc. lifted its stake in PPL Corporation by 3,377.9% during the first quarter. BlackRock Inc. now owns 47,999,937 shares of the utilities provider’s stock worth $1,794,717,000 after purchasing an additional 46,619,804 shares in the last quarter. State Street Corp lifted its stake in PPL Corporation by 0.7% during the first quarter. State Street Corp now owns 33,942,872 shares of the utilities provider’s stock worth $1,269,127,000 after purchasing an additional 233,142 shares in the last quarter. FMR LLC lifted its stake in PPL Corporation by 11.8% during the first quarter. FMR LLC now owns 17,138,572 shares of the utilities provider’s stock worth $640,811,000 after purchasing an additional 1,812,574 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in PPL Corporation by 12.3% during the first quarter. Epoch Investment Partners Inc. now owns 13,918,249 shares of the utilities provider’s stock worth $520,403,000 after purchasing an additional 1,524,365 shares in the last quarter. Institutional investors own 70.95% of the company’s stock.
PPL Corporation Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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